Five $(5)$ years ago, Mack purchased $1,000$ shares of common stock in Ironwood Corporation for $$40,000.$ In the current year, Mack receives a nontaxable stock dividend of $50$ shares of Ironwood preferred. Total values at the time of the dividend are: $$20,000$ for the preferred and $$60,000$ for the common. Based on this information, Mack's basis is:

Group of answer choices

$$80,000$ in the common and $$20,000$ in the preferred.

$$10,000$ in the common and $$30,000$ in the preferred.

$$30,000$ in the common and $$10,000$ in the preferred.

$$32,000$ in the common and $$8,000$ in the preferred.